First Posted: 9/17/2012 11:48:36 AM | Last Updated: 9/17/2012 11:49:12 AM
LAFAYETTE -- With major capital investments of some $540 million in the first two quarters of 2012 — about $100 million more than all of 2011 — the community’s economic activity is way up, reports Greater Lafayette Commerce, the area’s economic development organization.
“More than half of those investments, some $315 million, are by eight manufacturing industries,” said Jody Hamilton, economic development director. “That’s phenomenal, really. We have three new plants under construction: Alcoa, Heartland Automotive and Nanshan America. And we have a major expansion announced by Subaru of Indiana Automotive Inc.”
All economic sectors are faring well, Hamilton reported. “We have just published our Midyear Economic Trends report, detailing growth, new businesses, new construction and other positive factors. It’s thumbs-up all the way.”
The annual tally includes 10 new life science/high-tech startups, 19 new restaurants and night spots, and 18 new retailers through June 30. In the medical sector, Sycamore Springs rehabilitation hospital has opened, Ernest Health’s $18.5 million rehabilitation hospital is under way, and Indiana University Health Arnett has completed its sixth floor, increasing the number of beds to 191.
The report also highlights activities of several community initiatives that Greater Lafayette Commerce is a part of. They include the Advancing Manufacturing program, Community of Choice, Read to Succeed, Intersection Connection and Wabash River Enhancement Corp.
“This community has a lot to be proud of, a lot of promising developments and growth,” Hamilton said.
The full Economic Trends report is available at www.greaterlafayettecommerce.com.
Headquartered at 337 Columbia St. in Lafayette, Greater Lafayette Commerce, whose roots go back 85 years, is a nonprofit membership organization supported by local industries and governments. Its mission is to advance economic and community prosperity for a superior quality of life.